Pages

Categories

The Worst Mistakes When Choosing a Realtor and How-to Avoid Them

There is no doubt that realtors play a significant role in the success of selling your home. There are hundreds, if not thousands of realtors that you can find within your local area. That is mainly because most of the states don’t demand a lot from realtors regarding their qualifications. To become a realtor in most of the states, you only need to commit a few hours in class, do an exam and get a certification for a small fee.

It, therefore, becomes a nightmare for most homeowners to choose the right realtor considering their huge number in most regions. With that said, choosing the wrong realtor to list your proper could be the worst mistake you would ever make. It might not only cause you frustrations but also your home might be ‘on sale’ for a long time, or you could be forced to settle for a weak closing deal.

However, you can avoid mistakes that most people fall into when choosing realtors if you learn some of the worst mistakes people make when selecting a realtor. Some of these errors may seem obvious, but unfortunately, most of the homeowners repeat them time and again. You need to look at the solutions too.

1- Hiring a part-time realtor instead of a full-time realtor.
A lot of people consider real estate as a career that doesn’t require much effort and that almost anyone can do it. Most of these people also assume that real-estate is the easiest way to mint loads of money. However, nothing can be further from the truth. Real estate is a serious business that requires a lot of commitment and effort.

Some real estate agents engage in the business on a part-time basis because they see it as a quick way of making money for their extra time. Come to think of it this way, how available will a part-time realtor be to get a chance to answer customer inquiries if they are on a busy 8-5 job? The major role of a realtor is to market your home to as many buyers as possible. That is why it is critical to hire a full-time realtor.

2- Hiring a friend or a family member.
Most people make the mistake of hiring a realtor based on their relationship. It is comprehensible that when you have a friend or a relative in the real estate sector, you would want to give them the chance to sell your home. Choosing realtor should be solely based on education, work experience, and integrity. If you have a friend with a combination of such attributes, then it would be an advantage. The problem with hiring realtor based on relationships is that when the deal goes south, it could ruin the existing relationship.

3- Hiring realtors who offer the lowest commission.
Commission rates charged by realtors vary with the town and the state where the property is located. In most cases, realtors charge almost the same commission rates for particular properties. The worst mistake that most people do is choosing realtors who offer the lowest commission.

Why would this be a problem, and in fact, you are saving some money? The truth is that an agent who offers low commission won’t be motivated to market your home if it is at a lower fee than other homes that he or she is selling. Secondly, can you have faith with a realtor who could not negotiate for their commission efficiently to negotiate the right price for your home? Lastly, if a realtor is working on a very little commission, they are not likely going to spend their money on marketing your home.

4- Choosing a realtor based on their listings.
It may be a perfect idea to consider a few of the top realtors in your region. There is no doubt that success speaks for itself. However, hiring a realtor based on their sales could also be deadly. It could mean that they are not rightly priced or that they take up so many inventories to fill advertisement pages and to earn customer confidence. It is important to check out how many listings were sold, how many of them went through multiple price reductions, and how easy was the escrow when the buyer came knocking.

5- Hiring an agent without asking for references.
Some people may assume that since they are good judges of character, then they don’t need to collect any references. The best way to know about your agent is to other people that they have worked with before. A good agent should be in a position to give you some past clients that you can call or email.